Well, since two matched divers with RMV's of 0.4 cuft/min can both use their own single 80 (77.4) air filled to 3200 psi to do a 20 minute true buddy dive to 100' and hit real deco while observing ALL protocols from thirds to rock bottom and a 3 minute safety stop, who am I to say it is a bad idea?
(I wouldn't do it either)
Can you clarify what is meant by a "true buddy dive"?
My guess is you mean that both divers always have enough gas to get to the next switch, but not sure.
I am also not sure what you mean by "real deco"?
20 minutes at 100' is right about at the NDL
Lastly, by my calculations, a 0.4 diver going to 100' for 20 minutes would use (0.4 * 4 * 20) 32cuft of gas which is beyond thirds. Not saying you would need to use thirds on this dive, but you did point out that they would be observing thirds. I would also tend to agree with Tom that the 0.4 shouldn't be used for planning since in an emergency the breathing rate would go up even for experienced divers, let alone someone taking their first tec class.
edit: when I say "0.4 shouldn't be used for planning..." I am basing this on the assumption that 0.4 is a resting rate, not a working rate but concede that for many divers, 0.4 could be a working rate.